business
Canva Revenue Falls Short of Target as Job Cuts Loom
Canva's revenue falls short of target as job cuts loom, according to confidential internal data.
Key points
- Canva's senior leadership and human resources executives met at its Surry Hills headquarters on Tuesday to deliberate staff lay-offs.
- Canva's annualised revenue, exclusive of tax, was about US$3.69 billion near the end of October.
- The $US31 billion ($44 billion) company is losing active users, according to confidential internal data.
Why it matters. If lay-offs go ahead, they would follow a stalled revenue run-rate and falling active users, according to the internal data.
Canva's senior leadership and human resources executives met at the company's Surry Hills headquarters on Tuesday afternoon to deliberate staff lay-offs. Confidential internal figures obtained by this column show the company, valued at $US31 billion ($44 billion), is losing active users and struggling to grow revenue. Annualised revenue, exclusive of tax, was about US$3.69 billion near the end of October, roughly the same run-rate as at the start of this year.
Latest updates
Canva Revenue Falls Short of Target as Job Cuts Loom
Canva's senior leadership and human resources teams met at its Surry Hills headquarters on Tuesday to discuss staff lay-offs. Confidential internal data show the company is struggling to grow revenue and is losing active users. Canva had set a "2026 foundation goal" of reaching US$5.2 billion in annualised revenue, excluding tax. The company is valued at US$31 billion, or about A$44 billion. The report is based on internal figures seen by the Australian Financial Review, and Canva has not publicly confirmed the planned cuts.